A seemingly helpful initiative for prospective homebuyers has restrictions, which may make you consider life on the water.

Last week property dominated the headlines. First came the long-awaited launch of MI New Home, a mortgage indemnity initiative by Homes for Scotland, supported by the Scottish Government.

This aims to help anyone who wants to buy a new-build home up to the value of £250,000 from participating housebuilders by making available up to 95% mortgages from participating lenders – to date Nationwide and the Royal Bank of Scotland, with Bank of Scotland/Halifax have committed to providing a range of products designed for the scheme.

Devised by Homes for Scotland in conjunction with housebuilders and the Council of Mortgage Lenders, MI New Home should safeguard construction jobs; good news for the first 11 builders to sign up: Merchant Homes, Charles Church, David Wilson Homes, Miller Homes, Taylor Wimpey, Persimmon Homes, Springfield, Barratt, Stewart Milne Homes, Bancon Homes and Chap Homes.

While I applaud the scheme generally – particularly that it is open to all and not reserved to first-time buyers – it is restricted to new-build properties, and will therefore not do anything for the many people who would prefer to buy an existing property.

Consumer Affairs Minister Jo Swinson also announced that the government intends to exempt intermediary agents who help homeowners privately advertise and sell their houses from regulations specified by the Estate Agents Act.

The government also plans to repeal the Property Misdescriptions Act, which would mean intermediary agents no longer being required to check the accuracy of advertised property details.

Intermediary agents are mainly web-based companies and portals that host private property sales advertisements without getting involved in the sales process or engaging in estate agent activities, such as providing advice, which is on what it all seems to hinge.

To my mind, dabbling with consumer protection like this is risky and likely to create confusion. Perhaps bona fide estate agents will have to start wearing badges-

The life aquatic

Having always had a yen to live on a houseboat, I am revisiting the idea in light of Scottish Canals' launch of its Living on Water campaign aimed at encouraging more Scots to consider buying and living on a residential houseboat, as many people do in London.

For inspiration look no further than Blue Hue, a refurbished narrow boat barge that is now a showboat on the Union Canal at Leamington Wharf in Edinburgh, one of two initial pilot schemes, along with Seaport Marina on the Caledonian Canal in Inverness. Rettie & Co is arranging viewings of Blue Hue, and if that floats your boat, Scottish Canals will be releasing 24 new high-quality residential moorings – eight at Leamington Wharf and 16 at Seaport Marina – to be individually auctioned online later this year. The first auction date will be announced next month and there will be an opportunity to submit closed bids by post for those who do not have access to the internet.

Given the upgrading that has been undertaken in recent years, I was surprised to learn there are only 25 official residential moorings on Scottish canals. Hopefully the very lovely Blue Hue, the two pilots – and a possible third at Speirs Wharf in Glasgow – will increase demand.

"Living on a boat offers a greener, more relaxed and more individual way of life," says Katie Hughes, estates director at Scottish Canals. "It can also be significantly cheaper than living on land. Today's boats are warm, comfortable and well specified, in a range of styles and sizes, so this lifestyle can appeal to a wide range of people."

Contact Rettie direct on 0845 220 2727 or visit www.livingonwater.co.uk

Branching out

Husband-and-wife team Steven and Jacqueline Miller, who own and manage Ayrshire-based Donald Ross Estate Agents, are launching a venture in Ayr, Donald Ross Lettings. The company will be run by Allyson Lapsley, who has more than seven years' experience in the business, and will focus on acquiring quality property lets in good locations with expected monthly rentals from £500.

Pretty as a picture

Some houses are so pretty a single photograph could inspire a sale: Murrel Cottage, near Aberdour, in Fife, is undoubtedly helped by its stunning garden setting. But then this was formerly the gardener's cottage for the neighbouring estate. Built circa 1900, the accommodation includes two public rooms, dining kitchen, three bedrooms (one in the turret, another with en-suite bathroom and French doors to the garden), family bathroom and shower room. There is also a timber "garden house", currently used as a study/gym, plus two sheds and grounds of almost two acres. The village is similarly picturesque and has two beaches (one a Blue Flag winner), coastal walks, a natural harbour and good facilities. Offers over £510,000 are invited by CKD Galbraith's Cupar office.

Renting v buying

interesting facts and figures from Bank of Scotland – their research shows the cost of buying a home in Scotland is now 7% lower than renting, and that Scotland is the fifth most affordable area in the UK for buying relative to renting (the East Midlands is the cheapest). Surprisingly, it also reveals that buying a house in June 2012 was more affordable than renting in all 12 regions of the UK – a complete reversal from June 2008.